#加密立法新纪元 On July 17, 2025, local time, the U.S. House of Representatives voted to pass three bills related to stablecoins and other cryptocurrencies. On July 18, U.S. President Trump officially signed the "Guidance and Establishment of the American Stablecoin National Innovation Act" (referred to as the "Genius Act") at the White House, marking the first official establishment of a regulatory framework for digital stablecoins in the United States, ushering in a new era of cryptocurrency legislation. The relevant details are as follows:

- "Guidance and Establishment of the American Stablecoin National Innovation Act": Aims to establish a regulatory framework for stablecoins pegged to the U.S. dollar. The bill requires that stablecoins be backed by liquid assets such as U.S. dollars or U.S. short-term treasury securities, mandates that all stablecoin issuers obtain federal or state licenses, and stipulates that assets cannot be diverted for other uses, while also requiring issuers to disclose detailed stablecoin reserves monthly.

- "Digital Asset Market Clarity Act": This bill aims to clarify the regulatory scope of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), providing clear rules for the cryptocurrency market. The bill classifies digital assets into commodity-type assets and security-type assets, with the CFTC taking on a core regulatory role, overseeing commodity-type digital assets, while the SEC regulates security-type digital assets.

- "Anti-Central Bank Digital Currency Monitoring National Act": Passed by House Republicans with a majority vote. The bill requires a ban on the Federal Reserve issuing central bank digital currency in the future, arguing that central bank digital currency would grant the U.S. federal government the authority to monitor, track, and even...